CMB International estimated that Yancoal Australia's 2Q24 revenue was about 1.5 billion Australian dollars (down 20% year-on-year, up 3% quarter-on-quarter), maintaining the annual sales guidance unchanged.
According to the news from the Wisdom Financial APP, CMB International published a research report stating that it maintains a "buy" rating for Yancoal Australia (03668) and a target price of HKD 45 based on net present value. The bank calculates that Yancoal Australia's 2Q24 revenue is about 1.5 billion Australian dollars (down 20% year-on-year, up 3% quarter-on-quarter), maintaining the annual sales guidance unchanged.
The bank stated that Yancoal Australia's 2Q24 operational data was slightly lower than expected, with equity sales increasing only 1% year-on-year to 8.6 million tons due to adverse weather conditions and longwall movement. The average selling price in 2Q24 decreased by 20% year-on-year, but it complies with market trends and the bank's expectations.